Home » What We Do » Receivables Management

Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person

Real-Time Bookkeeping Services, Payroll, Financial Statements & Tax returns for Business Owners, CPAs and Bookkeepers Starting From £ 8 Per Hour For Business owners

Quality Driven Approach

QuickBooks And Xero Certified Experts

50% Reduction
In Costs

Part Time / Full Time Resources For

Starting from £ 300 for 40 hours months
Starting from £ 1100 for 160 hours months

Hire Remote Team

7 +
Years of Success
1100 +
Completed Projects
250 k+
Hours of Experience
20 +
Accounting Software Used

Are Your Customers Not Paying In A Timely Fashion?

Is that affecting your cash flow, and it costs you bad debts? Then, the solution of these is to have systematic payment plans from the customer. Meru accounting provides Receivable management services in U.K.. A record receivable management merges tied in with guaranteeing that clients pay their solicitations or invoices. Great receivables management specifically adds to an organization’s benefit since it lessens terrible debts.
The organization likewise has a superior income and higher accessible liquidity for speculations or acquisitions. Besides, great receivables management boosts an organization’s professional image.

Meru Accounting‘s plan for accounts receivable management

With the Receivable management services in India by Meru accounting, you can be assured of your cash flows at timely intervals. We do a regular follow up for receivables through email as well as through phone call. We can also use a specific email ID created for your domain ([email protected]) from which we can do email marketing for your organization.

1.

Clear policies for credit approval.
Set clear policies for credit approval which could include bank reference, trade reference, financial statement, and so forth.

2.

Send invoices for customers timely.
It might appear to be self-evident, but if money is to be gathered, at that point, the client must be invoiced. Therefore, it is basic that the receipt is conveyed rapidly and precisely. So, the receipt of your invoice sent is the main sign that an organization gets the productivity of your debt collection system.

3.

Accounting for receivables.
Two key methods of speeding up cash collection from accounts receivable are by using factoring and also early settlement discounts, which, thus, helps in easy tracking the payment from customers.

4.

Tracking of overdue payments.
So, you can easily track the payments from the customers that are overdue. We also do a regular follow up for receivables through email or a phone call.

5.

Making aged Payables report.
This shows the amounts outstanding from each customer and also for how long they have been outstanding. This will, thus, show any breaches of the credit terms.

6.

Stay organized by Automation with Online billing tools.
Automating receivables management allows you to link all the systems. This, then, improves workflow efficiency. It also provides a better insight into generating cash flow and customer reports.

Purpose of Receivables Management

For a business, receivables management stands to be the core part as it helps in maintaining the soundness of cash flow. Receivables management does not only mean getting paid on time from the clients or customers, but it also aids in building great relations with them and empower the goodwill of a company. Here are some purposes for which generally a business undertakes receivables management.
Receivables management ensures the financial viability of a business and also ensures the cash flow comes in regularly. Thus, it’s a core requirement of any business.
Every business has the daily requirements of finance like, to run daily chores properly, to pay bills, to pay employees, etc. So, the question is if the business itself won’t get paid from its clients than how would it pay the requirements? Then, here the receivables management comes into the picture to secure financial needs.
Generally, a business has to make a provision to fulfill the day to day working capital needs. But, this provision can cut if there is timely payment received from the clients. So, to ensure this, receivables management is a must.
Receivables management sets a proper system for billing and also getting the payment timely, which is inevitable. It also ensures that this process goes hassle-free. Thus, it makes sure that customers go through a very smooth operation of payment resulting in happy customers. That, of course, eventually means more business!
Usually, issues with customers come at the time of billing or invoicing, and mainly it is caused by some misunderstanding. But, if a business has a receivable management team separately, such possibilities get eliminated, and good relations with customers can be established and managed efficiently.
Receivables management also helps in establishing a systematic process for receiving payments from customers, which ensures smoothness in the process. Thus, it turns a business into a brand that speaks with its integrity and values.
Receivables management deals with analyzing clients and their credit soundness. Thus, it helps a business while coming into contact. It also helps in setting the lending agreement, as many a time a company lends some products or goods on a credit basis. Hence, receivables management can save a business from entering into such doubtful contacts.
A separate receivables management team looks after receiving timely payments from clients and reducing the risk exposure of the business from a defaulting. As a result, the inflow of amount remains regular, which eventually reduces the outstanding balance occurred because of payments due to be received.
As receivables management takes care of receiving payments from clients on a regular and pre-decided basis, it reduces the risk of bad debts and, therefore, saves financial soundness of a business.

So, that’s how if a business opts for receivables management, it can have many benefits and can also focus on its core business with no worry of receiving pending cheques from clients.
Check out our Blog on – Why account receivable management is necessary for businesses?

WE’RE HAPPY TO ANSWER

CONTACT US FOR ANY QUESTIONS

    U.K. Office

    3rd Floor 207 Regent Street,
    London, W1B 3HH.
    Phone: +44 73 6051 0348

    What Our Clients Say
    Our Young and Dedicated Team

    Our Office Address

    UK Office

    3rd Floor 207 Regent Street, London, W1B 3HH.

    Global Production Team (India)

    902, Shivalik Tower, Nr. Panchvati Cross Roads, Ahmedabad, Gujarat 380009, India

      Request Call Back

      This will close in 0 seconds

        Request Call Back

        This will close in 0 seconds


        This will close in 0 seconds